Riot Platforms reports mixed results in Q1, with an increase in Bitcoin mining revenues
Riot Platforms released its financial results for the first quarter of the year this week, showing mixed performance. The company reported a 13% increase in revenue compared to the previous quarter, totaling $161.4 million — slightly above Wall Street estimates.
The highlight was the revenue from Bitcoin (BTC) mining, which doubled compared to the same period last year, reaching $142.9 million. This significant growth was driven by the appreciation of Bitcoin's price and improvements in the company's operations.
